On Apr. 4, 2025, EST GVT confirmed the progress of the Bill and confirmed that it was at Submission stage, having been presented to a session of EST GVT, after updating.
An additional document added since first issuing of the Bill is detailed assessment of various amendments to the Money Laundering and Terrorist Financing Prevention Act.
This includes a detailed definition of each of the proposed changes and the wording, with original proposal having been edited by Ministry of Finance's Legal Department.
The bill will now complete its passage through the required parliamentary process and with any further amendments to text deemed necessary, before then being enacted.
On Feb. 17, EST GVT proposed AML/CFT Act data processing changes.
EST GVT draft Act on amendments to the Money Laundering and Terrorist Financing Prevention Act covers what/how/why personal data is processed in EST FIU database.
Follows EST GVT Oct. 2024, issued AML and public information changes, see #229508.
Follows CoE Jan. 2025, issued FATF Moneyval EST AML follow up report, see #240177.
Summary
Proposals follow FATF recommendations on data analysis efficiency and use of results.
As per recommendation 26, EST FIU to follow Egmont principles in data exchange.
Bill also considers assessment of compliance in CoE FATF Moneyval assessment report.
Aims to ensure transparency and justify necessity when processing personal data.
Main changes include refining EST FIU database objectives, with new data processing methods adding profiling, text and data mining, as well as current strategic analysis.
Also amends AML/CFT system structure, and regulation of supervision by EST FIU.
The Bill transposes Dir 2024/1640 on mechanisms to be put in place by EU member states to prevent the use of the financial system for the purposes of money laundering and terrorist financing, amending Dir 2019/1937, amending/repealing Dir 2015/849.
Effectiveness
Clauses 31, 32 and 34 of section 1 are proposed to enter into force on Jul. 1, 2025.
The Act is planned to enter into force on Apr. 30, 2025.
Apr. 2025 Bill Updated
On Apr. 4, 2025, EST GVT confirmed the progress of the Bill and confirmed that it was at Submission stage, having been presented to a session of EST GVT, after updating.
An additional document added since first issuing of the Bill is detailed assessment of various amendments to the Money Laundering and Terrorist Financing Prevention Act.
This includes a detailed definition of each of the proposed changes and the wording, with original proposal having been edited by Ministry of Finance's Legal Department.
The bill will now complete its passage through the required parliamentary process and with any further amendments to text deemed necessary, before then being enacted.
Regulators
EST FIU; EST GVT
Entity Types
Corp
Reference
Bill 25-0172/03, 4/4/2025; Bill 25-0172, 2/17/2025
